Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Sweet Spreads in the Philippines

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Still growing from a small base and boosted by developments and growth in baked goods, sweet spreads enjoys faster value growth

Sweet spreads as a whole posted slightly faster growth in 2019 than it did in 2018, as did all the categories present within it. The category is expected to continuously benefit from expansion, as it remains the second largest category within cooking ingredients and meals, and especially from the developments and growth in baked goods.

Choc-Nut confectionery brand partners with Amarise Sweets to promote the use of a new Choc-Nut spread as a sandwich spread

Chocolate spreads, the third largest category of sweet spreads, continued to see the highest value growth in 2019, as it did throughout the review period, and its sales growth in 2019 was a slight improvement over what it was in the previous year. It is expected to sustain its present level of growth over the forecast period as well, since it is versatile and can also be used as a topping for cupcakes, as a chocolate dip and spread on pancakes, etc.

Honey is mainly used as a healthy sweetener, but new products generate interest in its use as a spread as well by offering interesting new flavours

Value growth of honey, the smallest sweet spreads category, rose slightly but steadily throughout the review period up through 2019. Honey, which continues to be used more as an alternative healthy sweetener than as a spread in Philippines, is benefitting incrementally from increased health consciousness in the country.

COMPETITIVE LANDSCAPE

Top three players in sweet spreads all operate exclusively or mainly in nut- and seed-based category, where peanut butter is the most demanded product

Within sweet spreads, the top three companies remained the same in 2019. The first two players – Unilever Foods Philippines (CMC) and Newborn Food Products – derive their strength entirely from their leadership in nut- and seed-based spreads, the largest sweet spreads category in the Philippines.

Nutella uses fun packaging innovations to boost sales

Nutella, the second-ranked chocolate spread brand in the Philippines, continues to use packaging to renew consumer interest in its brand and it received a slight uptick in its value growth in 2019 for the second consecutive year. In December 2018, it released its chocolate spread in glow-in-the dark, Christmas-themed glass jars featuring a carrot-nosed snowman near a frosty-looking tree.

Newborn Food boosts interest in its light peanut butter with its “Let’s Build a Healthier World” campaign to raise awareness of the need for healthy eating

In 2019, Newborn Food Products (owner of Lily’s Peanut Butter brand) organised a “Let’s Build a Healthier World” campaign to raise awareness of the need for healthy eating. Lily’s is one of only a few peanut butter brands that offer a light variant; its version, called Lily’s Peanut Spread Lite, is sweetened with stevia.

Files are delivered directly into your account within a few minutes of purchase.

Packaged Food in the Philippines - Industry Overview

EXECUTIVE SUMMARY

Along with other packaged food developments, a plethora of new products are introduced to meet demand for convenient, healthy, interesting and indulgent food

While Universal Robina maintains its overall lead, the competitive landscape sees significant expansion and other new developments in 2018-2019

Distribution developments include new players, acquisitions and some drop-outs, while modern grocery retailers continue to dominate sales

Ongoing demand for healthier, convenient and indulgent food will ensure continued growth for packaged food in the Philippines

FOODSERVICE

Sales to Foodservice

Beyond Meat’s plant-based meat substitutes, currently sold by bulk/wholesale only, are gaining traction in restaurants seeking to capitalise on demand for healthy and environmentally friendly products Arla Pro, a dairy foodservice concept created for professionals, is launched at a major event featuring renowned chefs from throughout Southeast Asia demonstrating the use and versatility of Arla productsSysu International hosts Taste Setters workshop to generate interest among foodservice players and food manufacturers in spicy up their menus and products with Tabasco dry mixes

Consumer Foodservice

Despite inflationary environment and related uncertainties, consumers with higher disposable incomes still choose to dine out, as some but not all foodservice operators choose not to raise their pricesConvenience stores limited-services restaurants are performing well, drive by ongoing rollouts of new concept stores, widening selection of ready meals, snacks and other food and increased dining spaceUse of food delivery mobile apps continues to drive rapid growth of home delivery